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House Price Crash Forum


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About slowjoe

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  1. Sorry for the delay in responding. How much of the contract should I post? My partner claims that it is impossible for the landlord to be awarded more than the deposit. Is she correct? I would especially appreciate a link to a case where damages were awarded against the tenant.
  2. We moved out of a house at the end of January, where the tenancy was semi-managed. We had lived there since 2005. The landlord had not viewed the property in the intervening period. There was not a formal inventory taken at the start of the tenancy. We did not have the property professionally cleaned at the end of the tenancy. We also had not had the windows cleaned, although the contract required this, and we had paid the rent late on occasion. The contract allows her to charge £30 per overdue rent letter. When we moved in, there was a significant amount of junk, and most of this we retained at the end of the tenancy. The landlord did not arrange for a professional inventory at the end of the tenancy. However, she claims that we did not have authority to keep pets (we ok-ed this verbally with the letting agent at the start of the tenancy) and says that it took 3 skips to remove composted rabbit dropping and other junk from the house. There is damage to the carpet from a cat we kept. The contract specifically allows her to charge for damage caused by pets. She also says that we did not inform here of problems with the fabric of the house in a timely manner, and therefore are liable for additional costs. There was an existing sky dish on the house when we moved in, although the contract prohibited us installing one. She wishes to charge for the removal, cleaning of the wall, and replacement of a drainpipe due to bird droppings from birds resting on the dish. She also says that the house was not habitable at the end of the tenancy, and she had to pay for a hotel for a month. She wishes to retain the deposit, and threatens to seek legal advice for damages My partner feels that we should contest the deposit, because without an inventory, the references on the net suggest we should be successful. In contract, I am concerned that due to costs of cleaning, we are not likely to be get much of the money, and are reasonably likely to end up in jeopardy of significant further loss if she goes to court, and the cost-benefit ratio simply doesn't reward contesting. What does the collective wisdom of HPC think?
  3. 2006-04-02 11:19 BST 1024 / 12248 ( 8.36 % ) Another substantial drop in reductions, while listings increase.
  4. 2006-03-20 21:16 GMT 1092 / 12031 ( 9.07 % ) Dropping down from last week's high.
  5. 2006-03-15 18:50 GMT 1161 / 11892 (9.76 %) It has dipped and recovered between the last post and this one. Edging up toward 10% now.
  6. 2006-03-06 22:01 GMT 994 / 11708 ( 8.489% ) Significant drop (0.5%) in percentage, as reductions go down while properties goes up.
  7. Start of a new month: 2006-03-01 19:05 GMT 1039 / 11533 ( 9.001% ) Up over the thousand mark! (Yesterday, I got a dead 1000 for the search, and for some reason thought the search had been limited.)
  8. What Baz said. What you (Pablo) need to do is change the wording to questions. For example Can you confirm whether groups of properties (aka portfolios) placed for sale as a single lot are treated as a single dwelling for the purpose of your index? Can you confirm whether multiple listings for high value properties each are considered for the purpose of your index? In comments, it has been said that you use a certain number of standard deviations to filter out anomalous prices when calculating your price index. Can you please provide the value of the standard deviation for each property type for the past 12 months. Can you provide the input dataset on which the index was calculated for each of the past 12 months. This should be made available on your website as is the custom for opinion polls and datasets for scientific papers. End of examples.
  9. The next step is to ask Rightmove (quoting the removal of the disclaimer) to: * state the methodology (3 std devs from the mean, or whatever_ * confirm that the methodology hasn't changed for the past 12 months * provide the data file for each month for the last 12 months For added points, HPC should alert Reuters, AP and Bloomburg that they wish to audit the RIghtmove data and methodology. Let's have some fun with this.
  10. 2006-02-26 00:24 981 / 11517 ( 8.517% ) Listings up, and the usual weekend dip in reductions.
  11. 2006-02-18 10:21 934 / 11236 ( 8.31% ) The number of properties on offer is rising steadily, and there seems to be a slight dip in reductions at the weekend.
  12. Each currency/economy has a rating from the international markets. Some currencies aren't viewed as particularly attractive for whatever reason (instability, national debt, inflation, low productivity growth...) and need to maintain a higher interest rate, in order to attract investors to government bonds. Broadly, Sterling needs to pay a higher rate, because otherwise, the markets think that it should depreciate against the dollar/euro. One way to see why is that UK labour productivity growth is consistently worse than the euro block and the US. Thus, the labour component in production consistently gets more expensive. The easiest way to cut wages is to allow the current to slide a little. So, no, waiting till the differentials go away can't be done without side-effects on the markets. If we wait, the pound will start to fall, and prices will rise. As a former minister told me last week, "inflation" is at 2% because government inflation is about 5% and chinese manufacturing is lowering non-gov prices. That can't last
  13. 2006-02-16 20:02 967 / 11214 ( 8.62% )
  14. 2006-02-14 19:45: 947 / 11173 (8.476%) Big rise of new listings, and big rise in number of cuts.
  15. To give you the context, "rent is dead money" is a quote that property bulls like to use. It needs to be challenged. It should probably be rephrased with "rent may be dead money", but whatever... If you can find the deal described here, then you should probably take it. To be fair, the comparison should be between the rent, and the interest on 100% interest-only mortgage. These are the actual costs of housing. If you can pay a repayment mortgage for less than the rent, good for you. In reverse order, having an open mind to ask suggests you aren't thick. In the current market, many people would significantly cut their housing costs by renting. When that happens, the BTL investor is NOT paying his mortgage from the rental income. That isn't great, but it can make sense if the increase in the property value covers the difference. If the property market is flat, the value of the rental income becomes more important. If the BTL investors decide to stop subsidizing their tenants, they then risk depressing the market more. But you seem to make a mistake suggesting that waiting for a crash is potentially catestrophic. That would only be the case if prices rose significantly further for the forseeable future. I described my personal circumstances in this post. I'm saving a huge amount against servicing a mortgage on the value of the property. I'm trying to save a considerable chunk of that in what I think of as a "synthetic mortgage". If you can buy cheaper than renting, then that would strongly indicate that you should consider buying. It would also indicate that it is unlikely that prices would drop from the current level. The reason that you are unsure would appear to be that you have an un-typical situation. Where in the o****ry are you living? Also, to clarify, the "dead money" is the difference between an interest payment and the rent.
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